Yamamoto agrees to pay $167,627 to NMS

Japanese investor Takahisa Yamamoto has agreed to pay $167,627 to National Maritime Services Inc., the former custodian of cargo ship M/V Luta.

Yamamoto and NMS, through George Lloyd Hasselback and Sean E. Frink, filed a stipulated judgment before the U.S. District Court for the NMI on Thursday.

Yamamoto and NMS have reached a settlement deal regarding payment of services for custody and care of M/V Luta. The settlement agreement was filed under seal in court.

The settlement deal requires Yamamoto to stipulate to a judgment in the amount owed to NMS.

Hasselback and Frink disclosed that the judgment shall not be enforced so long as Yamamoto pays NMS pursuant to the terms of their settlement agreement.

Last Feb. 22, U.S. District Court for the NMI designated judge David O. Carter ordered the immediate release of M/V Luta to its owner, Luta Mermaid LLC, after Yamamoto reached a settlement agreement with the vessel’s custodian.

Following the settlement, Carter discharged the court’s previous order to show cause against Yamamoto and relieved NMS of its duties as custodian for M/V Luta.

Luta Mermaid LLC members are Abelina T. Mendiola, Deron T. Mendiola, and Fidel S. Mendiola III.

Carter found the settlement deal acceptable.

Carter earlier gave Yamamoto 24 hours or until last Feb. 22 to settle with NMS his share of $130,000 in custodial fees.

U.S. District Court for the NMI designated judge Frances Tydingco-Gatewood issued the order to show cause a few weeks ago against Yamamoto for failing to pay his outstanding balance of $130,000 in custodial fees. Yamamoto had already initially paid $30,000 in custodial fees.

Tydingco-Gatewood ordered Yamamoto to appear in court and explain why he should not be held in contempt for resisting the court’s order for him to pay his share of custodial fees.

The vessel’s crew, Long Consulting, and Norton Lilly have complied with the court’s order by paying their shares for custodial fees in the total amount of $28,916. The crew and the two companies are intervenors in Yamamoto’s lawsuit against Lt. Gov. Victor B. Hocog and the owners of M/V Luta.

Tydingco-Gatewood determined that Yamamoto’s relationship with Abelina T. Mendiola and her family demonstrated that he was a joint venture with them in M/V Luta.

Yamamoto is suing Hocog, Luta Mermaid, and the Mendiolas for allegedly refusing to pay back the $3.4 million that he put up for the vessel. The vessel was seized shortly after the U.S. Marshal Service seized the ship last Oct. 25. NMS was then appointed as custodian of the vessel.

Yamamoto’s several other claims in the lawsuit are pending in court.